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joint venture
This term is primarily used in business, legal, and economic contexts to describe a strategic partnership. It carries a professional, formal register and implies a structured agreement rather than a casual collaboration. The term emphasizes the shared nature of the commitment, specifically the distribution of risk and reward among the participating entities.
In a legal sense, a joint venture can be a temporary arrangement for a single project or a more permanent creation of a new legal entity. It is distinct from a merger or acquisition, as the original companies typically maintain their separate identities while collaborating on the specific venture.
Meanings
Examples
The two tech giants formed a joint venture to develop a new operating system.
We should consider a joint venture to enter the Asian market more effectively.
The joint venture proved to be a failure after the partners disagreed on the budget.
I wonder if this joint venture will actually deliver the promised synergies.
They signed the agreement to establish a joint venture for the construction of the bridge.
Is the joint venture still operational or has it been dissolved?
A strategic joint venture allows companies to share risks and resources.
Maybe a joint venture is the only way to afford the research costs.